Apple, Alphabet Jumping Into AI;Robotics Surging, Says BofA

Artificial intelligence will sweep across technology sectors as robotics usage in manufacturing soars, says Merrill Lynch in a 300-page study that notes Japanese and U.S. companies such as Alphabet and Apple (NASDAQ:AAPL) are leading the charge into AI. Apple recently acquired two AI startups, Perceptio and VocalIQ. Among U.S. companies, Alphabet (NASDAQ:GOOGL) and IBM (NYSE:IBM) have high exposure to AI, says the Bank of America report. In robotics, BofA’s stock picks include Rockwell Automation (NYSE:ROK) and Intuitive Surgical (NASDAQ:ISRG). In AI, “U.S. and Japanese companies have been leading the way, including efforts by Apple, Facebook (NASDAQ:FB), Google, Hitachi, IBM, Intel (NASDAQ:INTC), LinkedIn (NYSE:LNKD), NEC, Yahoo (NASDAQ:YHOO), and Twitter (NYSE:TWTR) among others in the last year,” said the report. $70 Bil Market By 2020 In 2014, more than $2 billion was…